Broadcom Inc. $AVGO Shares Sold by Hartline Investment Corp

Hartline Investment Corp cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,394 shares of the semiconductor manufacturer’s stock after selling 150 shares during the period. Hartline Investment Corp’s holdings in Broadcom were worth $1,487,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at about $25,000. Cheviot Value Management LLC acquired a new position in Broadcom during the 1st quarter valued at about $25,000. Sawyer & Company Inc boosted its stake in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares during the period. Legend Financial Advisors Inc. acquired a new position in Broadcom during the 2nd quarter valued at about $28,000. Finally, Wood Tarver Financial Group LLC boosted its stake in Broadcom by 342.5% during the 1st quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer’s stock valued at $30,000 after purchasing an additional 137 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Up 1.2%

Shares of NASDAQ:AVGO opened at $344.29 on Friday. The company has a 50 day moving average of $330.52 and a 200-day moving average of $273.74. The firm has a market cap of $1.63 trillion, a P/E ratio of 87.83, a P/E/G ratio of 1.92 and a beta of 1.20. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The company had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom’s payout ratio is presently 60.20%.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. The trade was a 4.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Henry Samueli sold 368,797 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the sale, the director owned 37,722,534 shares in the company, valued at $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $340.00 target price on shares of Broadcom in a research note on Wednesday, August 13th. Argus boosted their target price on shares of Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, September 8th. KeyCorp set a $460.00 target price on shares of Broadcom in a research note on Monday, October 13th. Deutsche Bank Aktiengesellschaft set a $400.00 target price on shares of Broadcom and gave the company a “buy” rating in a research note on Tuesday, October 14th. Finally, Piper Sandler boosted their target price on shares of Broadcom from $315.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Buy” and an average target price of $372.52.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.